Renault wants to eliminate COO position

FRENCH carmaker Renault is proposing a reorganisation of its management structure to eliminate the position of chief operating officer after the person who held the post suddenly stepped down.

In a statement on Tuesday, Renault said it would instead add two new posts: chief competitive officer, who would be in charge of the product range, and chief performance officer, who would focus on market share and profitability. Employee representatives will review the plan next week.

Last week, Carlos Tavares left his post as COO, but Renault said he was still with the company, though it didn't say in what capacity.

Renault is struggling amid years of falling demand in the European market. To cope, it has negotiated with unions to make contracts more flexible and has focused on sales outside Europe.